Binance Announces its 3rd Iteration of the Binance Labs Incubation Program

Binance continues to unlock game-changing advantages for numerous crypto startups worldwide with the Binance Incubation Program.

By
Utulu Hope
on
July 14, 2021
Category:
Blockchain News

Changpeng Zhao Announces Third Season Of Binance Incubation Program  

The applications for the third Binance Incubation program have commenced. According to Binance Blog’s publication on July 13th, users can now apply for this year’s builders event once again. This follows the success attained by the protocol in the past couple of years. 

“The first two seasons of Binance Incubation from 2 years ago turned out really well. Let’s continue building” Tweeted Binance CEO, Changpeng Zhao.

The application period is set and will run for more than a month (July 12 to August 18, 2021). 

Source


The Binance Incubation Program

The Binance Incubation program was an initiative created by Binance Labs to promote the most promising blockchain projects and builders worldwide. The program was introduced in 2018, and designed to invest and help entrepreneurs deliver the best products deemed fit for the market. 

Binance Labs is the investment arm of the top exchange protocol. The Incubation Program has aided many of the best startups and teams that have been established. 

Source

The first season saw eight crypto startups receive incentives to boost their chances of success in the Decentralized Finance (DeFi) market. Binance Labs held the second season in 2019. A total of 13 crypto startups were supported, including Xend, Dune Analytics, Keylabs, and many others. 

Today, Binance Labs is again on the lookout for the most promising projects in the crypto space. Season three looks to reward even more unique innovation. 


Binance Incubation Program Season 3: Details and Benefits 

This season, Binance Labs will focus on supporting fast-executing projects in the following categories: 

  • Non-fungible Tokens (NFTs) 
  • Gaming 
  • Decentralized Autonomous Organization (DAO) Governance
  • DeFi Applications (dApps) 
  • Social Trading 
  • Payment and remittance solutions 
  • Scaling solutions 
  • Consumer-facing dApps
  • Mining optimization and solutions 
  • Algorithmic stablecoin solutions 

Binance Labs will extend its support to applicants in the field of exchange infrastructures. This consists of essential products and technology: Know Your Customer (KYC), new on-chain analytics, and secured SMS/email products. 

As stated earlier, applications have started and will end on the 18th of August. Applicants can send their applications here. They will be screened and accepted on a rolling basis. 

Founders and teams of selected applicants for the Incubation Program will be invited to an online program for ten weeks (September to November). Accepted startups will benefit from seed investment up to about $3million.

This includes mentorships from a wide range of blockchain experts, extensive network access to a variety of meaningful connections, and huge support from Binance Labs. For more details, refer to the Binance Blog.


Conclusion  

Binance has consistently identified talented and promising blockchain and crypto startups over the past two seasons of the Binance Labs Incubation Program. The accepted startups have attracted interest from major investors worldwide.

Binance Labs ensures these projects are sponsored by the right advisors, mentors, and experts. What's more, these startups have used the program to achieve success today, becoming notable projects in the crypto market. 

Top projects like Injective Protocol, SafePal, and Dune Analytics graduated from the Incubation program. With this in mind, Binance Labs has created an initiative that has promoted the development of budding projects in the DeFi space. 

We can only expect more productive projects to come out of Binance Labs. Season three of the Incubation program is upon us -- don't waste any time.

Tags:
No items found.
Utulu Hope

UC Hope is a passionate fan of crypto who could weave the latest event into sparks of inspiration and information. He leaves no stone unturned to get to the core of a story. Aside from writing, he spends his hours poring over algorithms and protocols, preparing for a future career as a computer programmer.

Text Link

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.